The disappointing retail data adds to the dim economic picture in the U.K. and to the challenges facing Finance Minister Rachel Reeves.

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Rachel Reeves has insisted she is “here for the long haul” as she defended her position as Chancellor in the wake of bond market turmoil.

UNDER-pressure Rachel Reeves was given a glimmer of hope as inflation fell — raising interest rate cut hopes. The Chancellor saw inflation sink 0.1 per cent to 2.5 per cent in December, the drop

Andrew Bailey has joined Chancellor Rachel Reeves and senior financial figures including the Chair of HSBC on a trip to China.

Unexpected figures released this morning suggested that the rate of inflation had decreased, but investors have been warned not to be complacent

Chancellor Rachel Reeves faces "difficult decisions" if she wants to meet her self-imposed financial rules after borrowing costs hit their highest level for 16 years, the former deputy governor of the Bank of England has warned.

There's good news for Chancellor Rachel Reeves in response to bad signs for economic growth - the market turbulence that piled pressure on her stewardship of the economy has reversed.

Falling inflation and borrowing costs are good news for the Chancellor but the Budget watchdog will not make a call on market conditions until next month

Truss herself accused the Chancellor of pushing Britain “to the brink of an economic crisis”. Shadow Chancellor Mel Stride said Reeves’ visit to China is “tone deaf” and she should be “reassuring” markets in the UK following turbulence on the gilt markets.

After 14 years of economic stagnation, this Government’s number one mission is to grow our economy. I will fight every day to deliver that growth and put more money into working people’s pockets'

British government bonds rallied for a third day running on Friday, all but wiping out a sharp spike in yields since the start of the year that had briefly prompted comparisons with former Prime Minister Liz Truss' mini-budget crisis of 2022.